Frequently Asked Questions
How do I apply for debt counselling?
You apply for debt counselling by completing a an application form. The form name is a Form 16. we need to speak to you about the procedure and fees before you complete the form 16, we will check it for errors. Thereafter you can print, sign and fax it to us together with you supporting documents.
How long does it take to apply for debt counselling?
The application process is fast. We have a very experience back team that will process your application as soon as we receive your form 16 plus supporting documents. We will notify all your creditors with a 17.1 Notice. This takes 2-5 days, normally shorter. As soon as all your creditors have been informed, your are protected from creditors. Please go to the Debt Counselling Process
for more info.
How will debt counselling influence my credit score?
We need to notify the National Credit Regulator that you have applied for Debt Counselling
. The NCR will then notify all credit bureaus that you are in debt counselling. When someone does a credit check on your profile, they will see that you are in debt counselling and they may not give you credit. But when opt out of debt counselling, the note will be removed from your credit file.
How will debt counselling influence my ability to apply for credit in the future?
When you have taken control over your debt or paid off all your debt, you will apply to exit debt counselling. You complete a form 17.4 and in 10 working days you will be removed from debt counselling. All credit bureaus will remove the note on your file. You are free to take out new debt. We don’t know if the credit providers will keep it on file that you were in debt counselling, nor do we know if they will penalize you. Debt counselling is still to new to know that, but remember that you have repaid all your debt to the creditor so they should not penalize you.
How much will the debt counselling cost?
Please go to the Debt Counselling Fees page for info.
Will my car and house be protected from my creditors?
Yes, it will be protected. Debt counselling is there to help the over in debted customer by helping the customer to manage with his monthly expenses. The creditors help by agreeing to lower the monthly payments. As soon as the creditors have agreed to the lower payments, they may not repossess any of your assets.
When the customer is still in the application phase he is protected as well. Credit providers must give the customer 60 working days to work the process. Customers must start paying the Payment Distribution Agency in the first month of applying for debt counselling.